Intel is reportedly planning to raise the size of its stock offering to around $20 billion.

According to Bloomberg, people familiar with the matter revealed that Intel is seeking to raise the size of its current stock offering from the previously planned $15 billion to around $20 billion, an increase of roughly one-third. The offering price is expected to be around $95 per share or higher, which would represent a roughly 6.5% discount to last Friday’s closing price. People familiar with the matter added that the offering has already received over $100 billion in subscription demand. If underwriters exercise the overallotment option, the final fundraising size could significantly exceed $20 billion. However, relevant discussions are still ongoing, and the offering size and pricing remain subject to change. JPMorgan Chase, Goldman Sachs, Morgan Stanley and Citigroup are participating in the offering. Intel’s shares fell 4.1% during regular trading hours on Monday, and were roughly flat in after-hours trading; the stock has still gained around 164% year-to-date. Bloomberg noted that this year’s largest U.S. stock financings have come mostly from companies benefiting from rising AI spending. Alphabet is raising up to $85 billion via public offerings and equity-linked transactions, while Oracle also plans to raise $20 billion through public offerings.